Gravity drainage districts and gravity subdrainage districts created under this Part may as political subdivisions incur debt and issue negotiable bonds payable from an ad valorem tax on the property within the district under the constitution and laws of the state of Louisiana relating to incurring debt and issuing bonds.
La. R.S. 38:1769
Issuance of bonds
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.